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City Economic Profile 2018 / 2019

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City Economic Profile 2018 / 2019 City Economic Profile 2018 / 2019 Westminster Economic Profile 2018 / 2019 | 1 2 | westminstereconomicdevelopment.org | [email protected] Located between denver and bouLder, westminster has prime proximity to both the exceptional intellectual capital a glance at westminster available in Boulder, as well as the incredible millennial workforce 113,875 in the metro Denver area. Plus, we’re right in the heart of the U.S. popuLation 36 Tech Corridor connecting Denver to Boulder. New development is happening throughout the city—transit- 45,446 oriented development, high-density development, mixed-use househoLds development. We’re taking an urban approach to some of our new growth while still maintaining more than 30% of our land 36.7 for open space, parks, and recreation. median age By car, bus, bicycle, rail, or international airliner, Westminster moves easily. We have a superior multimodal transportation 37.2% network, including an enhanced public transportation system, bacheLor's degree or higher two well-maintained highway systems, and a superior regional trail system that connects to over 150 miles of trails. 12.9% Just ask companies like Ball Aerospace, Digital Globe, Zimmer master's, Biomet, and Alliance Data. They’re either putting down roots professionaL, or doctorate degree or stretching out. All of this growth and expansion is attracting more amenities such as local and national restaurants, hotels, Source: ESRI Community Analyst Census 2016 Data Census Analyst ESRI Community Source: and shopping and entertainment experiences. $64,649 avg. disposabLe income 821,372 workforce within 10 miLes 3 coLLeges & universities Westminster Economic Profile 2018 / 2019 | 3 Real Estate With 26 business parks, 68 retail centers, and over 16 million square feet of commercial space, Westminster has real estate options to meet almost every business need. Comprehensive real estate information, including available demographics and detailed maps, is available through the Economic Development Office at303.658.2108 or [email protected]. totaL rentabLe square estimated space space type footage vacancy rate avaiLabLe* Industrial/Flex 3,764,020 2.7% 102,275 Retail 7,785,536 6.4% 494,977 Office Class A 2,502,979 9.9% 249,340 Office Class B 2,837,992 7.4% 209,441 Office Class C 430,664 9.3% 39,959 Source: Costar, City of Westminster, December 2017 *Includes available space that may not be vacant. 4 | westminstereconomicdevelopment.org | [email protected] Westminster Economic Profile 2018 / 2019 | 5 Characteristics of the Local Economy There are over 4,000 businesses located in Westminster. The business community includes small family-owned companies, service companies, and high-tech manufacturers, as well as national and international headquarters. Top Primary Employers Key Employers by Industry 2018 2017 rank empLoyer empLoyment aerospace technoLogy and information ▶ Ball Aerospace ▶ Coalfire 1 Ball Corporation 1,182 ▶ DigitalGlobe Aerospace and Packaging ▶ Epsilon ▶ Maxar Technologies ▶ LGS Innovations 2 Alliance Data Systems 1,045 ▶ Trimble Inc. Network Credit Authorization ▶ Polycom financiaL services ▶ ReedGroup 3 St. Anthony's North 915 ▶ ADS Alliance Data ▶ Trueffect Hospital Systems Healthcare Provider ▶ Alloya Credit Union research and deveLopment (formerly SunCorp) 4 DigitalGlobe 809 ▶ Cintron Geospace Technologies ▶ Citywide Home Loans ▶ Plato BioPharma 5 Trimble Navigation 600 ▶ Phoenix Financial ▶ Protogenic Geopositioning Technologies ▶ ServiceLink ▶ Syncroness 6 Tri-State Generation 550 heaLthcare and Life energy and utiLities Electric Energy Wholesaler sciences ▶ Kahuna Ventures ▶ ARCA Biopharma 7 ReedGroup 477 ▶ Tri-State Generation Human Resources ▶ AxisPoint Health ▶ Stonehenge Energy Management ▶ Cerapedics manufacturing ▶ Flagship 8 MTech Mechanical 460 Biosciences, Inc. ▶ Air Comm Corp Technologies Group ▶ Aspen Electronics HVAC Systems ▶ McKesson ▶ ProtoMED ▶ Ball Packaging 9 Kaiser Permanante 441 ▶ Surefire Medical, ▶ Springs Fabrication Healthcare Provider Inc. ▶ Tenere 10 LGS Innovations 373 ▶ Swisslog Research and Technology ▶ Zimmer Biomet Note: Chart does not include retail businesses. Source: City of Westminster Economic Development Office, December 2017. 6 | westminstereconomicdevelopment.org | [email protected] Source: DRCOG Master Employment 2016; City of Westminster Economic Daytime Employment by Industry Development Office, December 2017 4.0% 3.0% manufacturing pubLic administration 1,918 1,459 4.4% 0.1% transportation, uncLassified warehousing & whoLesaLe 68 2,125 19.3% 5.5% heaLth, education agricuLture, & sociaL services mining, utiLities & 9,232 construction 2,658 7.6% Employees Per Industry finance, insurance & reaL estate 3,652 47,966 15.1% totaL empLoyees retaiL trade 7,214 11.3% administration, personneL & other support services 5,408 14.5% 15.2% accommodations, professionaL, technicaL food & entertainment & information services 6,945 7,287 Westminster Economic Profile 2018 / 2019 | 7 Transportation Westminster’s strategic location provides easy and convenient access to the metro Denver and Boulder areas through a superior multimodal transportation network, which includes: ▶ An enhanced public transportation system ▶ A superior regional trail system ▶ Quick access to regional and international airports ▶ Two well-maintained highway systems By car, bus, bicycle, rail, or international airliner, Westminster moves easily. HIGHWAYS Local Transit Service through RTD runs 17 bus lines that A comprehensive highway system connects Westminster serve Westminster neighborhoods and Park-N-Rides. to the rest of the metro Denver area and Colorado. Our Service varies between 30 and 60 minutes depending on road system totals approximately 1,102 miles of street the bus route. network, not including CDOT highways. AIRPORTS direct access to convenient access to Denver International Airport (DEN) is a 30-minute drive ▶ U.S. 36 ▶ Northwest Parkway from Westminster. It offers non-stop service to more than ▶ Interstate 25 ▶ E-470 180 destinations, including London, Frankfurt, and Tokyo. ▶ Interstate 70 ▶ Interstate 76 Rocky Mountain Metropolitan Airport is adjacent to Westminster. It's Colorado’s fourth busiest airport and ENHANCED TRANSIT NETWORK offers complete U.S. Customs and ground services. The B Line commuter rail line runs between Westminster REGIONAL TRAIL SYSTEM Station (Westminster Station Drive and Grove Street) and Union Station in downtown Denver. Trains run every The city’s trails system provides an alternate means 30 minutes during rush hours and every hour at all other of transportation and has 145 miles of trails connecting times. Travel time is 15 minutes. Westminster. The U.S. 36 Bikeway provides residents and visitors with 18 miles of safe and simple bicycle The Flatiron Flyer is RTD’s bus rapid transit (BRT) service connection to Denver and Boulder. connecting Denver, Boulder, and all points in between. BRTs run every 15 minutes from the U.S. 36 and Sheridan Commuting Solutions has an interactive bicycle map and U.S. 36 and Church Ranch stations. With two stations to help you get around the Front Range area by bike along the U.S. 36 corridor, Westminster residents and and bus. (www.commutingsolutions.org/bike/bikemap) visitors have convenient and reliable options when traveling along the Front Range. 8 | westminstereconomicdevelopment.org | [email protected] N BOULDER I-25 UNIVERSITY OF COLORADO BOULDER E-470 US 6 144TH AVE 120TH AVE WESTMINSTER 104TH AVE DENVER INTERNATIONAL AIRPORT I-76 88TH AVE A 5 M I L E B S G I-276 PEA BLVD PEA 1 0 M POTENTIAL EFFERSON PARKWAY POTENTIAL I L E S UNION STATION COLORADO I-70 SCHOOL OF MINES UNIVERSITY OF COLORADO DENVER W 1 5 M I L E S DENVER I-225 I-70 R H UNIVERSITY SHERIDAN BLVD SHERIDAN OF DENVER E-470 2 0 M I L E S I-25 C D 2 5 M I L E S C-470 E F Westminster Economic Profile 2018 / 2019 | 9 Community POPULATION (RACE) Westminster is a first-ring suburb of the metro Denver area, with a population of about 80.4% 12.1% 113,000—but that doesn’t begin to describe the caucasian other unique places, neighborhoods, and development projects that can be found across the city. Already known for its great use of open space 6.0% 22.1% asian hispanic or and abundance of parks, Westminster is creating Latino denser and more urban spaces, including its persons of hispanic origin may be of any new city hub, Downtown Westminster. 1.6% race african With the arrival of commuter rail, the AGE DISTRIBUTION Westminster Station area is quickly growing Source: US Census Bureau, Census 2010 Data; Community Analyst, December 2017 Analyst, December 2010 Data; Community Census Bureau, US Census Source: as an urban core of the community with great connectivity to downtown Denver. Add in haracteristics of the population haracteristics magnificent retail and entertainment districts 19.2% Under 15 12.3% 24 15 to 15.9% 34 25 to 14.2% 44 35 to 13.2% 54 45 to 12.8% 64 55 to 12.4% 65 and older c and a historic section that is the true heart of the city, and Westminster has a place for everyone. EMPLOYED RESIDENT POPULATION Westminster recently won second place in the BY OCCUPATION National League of Cities’ 2017 Cultural Diversity Awards for the development of the Westminster Inclusivity Board and the innovation it brings to 16.5% 15.9% management service the community. Additionally, Westminster values a healthy 23.0% 9.9% workplace and has won several awards to prove professionaL production it. We recently won fifth place in the nation for the Top 100 Healthiest Employer’s Award. We're 24.9% 9.7% the only public employer to receive this award. saLes & office construction 10 | westminstereconomicdevelopment.org | [email protected] 34 3,163 145 60 5 6 city size in acres of miLes of deveLoped goLf recreation square miLes open space traiLs parks courses centers GOVERNMENT BUSINESS LICENSE Incorporated in 1911, Westminster’s council-manager All Westminster businesses must have a business form of government is consistently recognized license to operate in the city. Licenses are available for excellence in management and delivery of full at no cost through the City Clerk’s Office. For services to businesses and residents.
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